What Does Creditor-Placed Home Mean?

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What does Creditor-Placed Home mean? Read on to discover the definition & meaning of the term Creditor-Placed Home - to help you better understand the language used in insurance policies.

Creditor-Placed Home

Creditor-Placed Home

Single interest or dual interest credit insurance purchased unilaterally by the creditor, who is the named insured, subsequent to the date of the credit transaction, providing coverage against loss to property that would either impair a creditor's interest or adversely affect the value of collateral on homes, mobile homes, and other real estate.

We hope the you have a better understanding of the meaning of Creditor-Placed Home.

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